Legal Spend Management - Mitratech

Legal Spend Management

Legal departments need a legal spend management solution to fully operationalize their engagement with outside counsel, from negotiation and selection to budgeting, invoicing, approvals and analysis across business units both domestically and globally. Organizations with a comprehensive strategy for outside counsel selection and negotiation, the ability to view the firm’s work in progress, along with end-to-end invoice management have driven legal spend savings of 10% to 20% annually.

Mitratech consistently delivers the technology that drives this transformation for legal departments with: Collaborati, the legal e-Billing service trusted by over 11,000 law firms in over 160 countries; Viewabill, which provides real-time views of law firm work-in-progress; and comprehensive legal spend management solutions to departments of every size, saving time and money while increasing the predictability of costs.

Legal Spend Management

To learn more about our legal spend management capabilities within each of our enterprise legal management solutions, click the links below:

How legal spend management solved similar challenges for our clients

Your legal department is a highly trained and skilled team that is expected to perform as a best-run function in your organization. Today, that means being predictable with legal spend forecasts and effective in the engagement and management of outside counsel relationships. With outdated and manual spend management and e-Billing processes, your team is spending too much valuable time on low value tasks such as:

  • Processing, reviewing and approving invoices
  • Enforcing billing guidelines
  • Resolving disputes from incorrect, incomplete, or tardy invoice submission

In our recent whitepaper, “Catching the Wave: Legal Technology Spend at $3 Billion and Growing” a key conclusion was, “The forces impacting the market will require that both law firms and legal departments leverage technology in frequent and innovative ways in order to manage their increasing workload.” With a unified, proactive strategy to managing your legal spend, your team can pivot from the mundane tasks to highlighting the strategic value the legal department delivers to your organization.

How we help you be the best-run function in your organization

As your legal team grows in size and complexity, our spend management solutions ensure your team has the necessary tools to continue to provide value to your organization. Utilizing a proven, integrated solution saves your staff time and money. Our clients consistently save their organizations 10-20% annually with a unified approach utilizing Collaborati, the legal e-Billing service trusted by over 11,000 law firms in over 160 countries; Viewabill, which provides real-time views of law firm work-in-progress; and comprehensive legal spend management solutions to departments of every size. This comprehensive solution to legal spend management streamlines invoice review, enforces terms of engagement with outside counsel, and optimizes vendor selection, negotiation, and relationship management.

Our spend management solutions integrate with Collaborati, one of the most heavily adopted and well-known e-Billing solutions in the market with over 11,000 firms and vendors using it to submit invoices from more than 160 countries around the world. Additionally, Mitratech is the only legal management provider offering legal departments the opportunity to view law firm work in progress. Viewabill securely integrates with law firm time and billing systems, allowing your firms to share time entries in real time. By increasing visibility pre-invoice, the organic improvement in billing practices results in optimized spend, reduced disputes and enhanced relationships.

The tools to help you thrive in challenging situations

We can help you fulfill the demands of your legal department with powerful and collaborative, yet easy-to-implement-and-adopt, software solutions by:

  • Allowing staff to make better selections and approve rates rather than spending time researching and entering law firm data
  • Providing the ability to see law firm time entries in real time, pre-invoice on selected matters
  • Optimizing legal spend over time by tying together matter outcomes with firms that represent the best value based on past results and costs
  • Translating of any manual and LEDES format used by law firms into a single complete invoice form
  • Checking and adjusting invoices against guidelines and approved rates – saving time and eliminating overpayment
  • Notifying the staff of approval requests based on firm, matter, milestone, or invoice amount
  • Creating the audit trail of all modifications including approvals, reviews, adjustments, and rejections
  • Integrating with accounts payable and supplying notification to outside counsel to reduce unnecessary inquiries
  • Supplying the structure to record and enforce negotiations